Austrian air traffic management (ATM) and communications provider Frequentis Group last month acquired ATM system manufacturer Comsoft, of Karlsruhe, Germany, through an insolvency proceeding. The companies did not disclose the value of the transaction.
Vienna-based Frequentis (Stand F74) is an ATM ground infrastructure supplier of communications, information and tower automation systems to air navigation service providers and the U.S. Federal Aviation Administration. The company employs 1,250 people and generated €214 million ($233 million) in revenue in 2014.
Comsoft specializes in ground-based information and surveillance systems, and has supplied automatic dependent surveillance-broadcast (ADS-B) stations to countries including Iceland, India and Papua New Guinea. In addition to its headquarters in Germany, Comsoft has locations in Singapore and the Philippines. It had annual revenue of €40 million ($43.5 million) in 2014.
The companies announced the sale to Frequentis on January 13. According to the announcement, Comsoft filed an application to open insolvency proceedings with the District Court in Karlsruhe in late October. The court began the proceedings on January 1 and appointed lawyer Christopher Seagon as the insolvency administrator. Seagon requested pre-financing of insolvency payments to provide wages and salaries for about 250 employees.
“Following intensive discussions with key stakeholders, Seagon stabilized the business and continued operations in the interim,” the companies said. “With the sale, Seagon secures around 220 jobs and the office location in Karlsruhe. Frequentis thus expands its portfolio, specifically in the areas of air traffic control and air traffic management. Both sides agreed not to disclose details of the sale.”
Under Frequentis, the German company will be called Comsoft Solutions. “I am pleased about this extension to the Frequentis Group,” stated CEO Hannes Bardach. “The high quality solution portfolio of Comsoft, as well as the competence of the Comsoft team, will support the Frequentis Group in its efforts to develop innovative solutions for the ATM market, consistent with international standards.”